CRER (Chicago Real Estate Resources Inc.) is pleased to announce the successful sale of the property located at 5743-45 N. Broadway in Chicago’s Edgewater Neighborhood. The property, listed by CRER Senior Director Michael Weaver, has been sold off-market for a price of $1,900,000.
The property spans approximately 16,675 Sq. Ft. of land and features an 11,000 Sq. Ft. barrel truss roof building. It was previously used as an automobile body shop and includes a 5,000 Sq. Ft. parking lot. The property is zoned B1-3, which allows for the development of up to 42 units. Its proximity to the Thorndale stop, approximately a quarter-mile away, makes it eligible for Transit-Oriented Development (TOD) status.
The buyer of the property is Glenlake Acquisitions LLC, while the seller is Jon Yamagiwa, who had owned and operated Uptown Auto Service at the location for over 40 years.
Edgewater, located just seven miles north of The Loop, is a neighborhood that has a rich history and is experiencing exciting real estate development activity. The area features a mix of high-rise apartment complexes and single-family homes, providing a range of housing options at relatively affordable prices.
The neighborhood’s expansion shows no signs of slowing down, driven by its attractive amenities, diverse population, and thriving real estate market. With easy transportation options and a wide range of weekend activities, Edgewater is poised to remain a hotspot for Chicago residents for years to come
CRER is a full-service commercial real estate firm that offers a wide range of services, including commercial and investment property sales, leasing, tenant representation, property management, and receivership services. With a commitment to providing exceptional service, CRER is dedicated to assisting clients with all their real estate needs.
Contact Michael if you need help buying or selling investment properties in Chicago or the surrounding suburbs. If you are interested in better understanding what your property could sell for, please contact Mike for a free valuation report including financial analysis and comparable sales. MichaelW@crer.com | cell: (312) 446-5018
